Home / Knowledge / News / Textiles / Ahlstrom nets €11.8mn from sale of 2.314mn Munksjö shares
Ahlstrom nets €11.8mn from sale of 2.314mn Munksjö shares
10
Jan '14
Ahlstrom, a global high performance fiber-based materials company, has sold 2,314,000 shares in Munksjö Oyj for approximately EUR 11.8 million.

Ahlstrom's holding in Munksjö is included in other investments in the balance sheet and is valued at fair value. Ahlstrom will book a capital loss of EUR 0.7 million from the transaction in its Q1/2014 financial accounts.

Based on a price risk sharing agreement between Ahlstrom and EQT, the largest shareholder in Munksjö, Ahlstrom is entitled to compensation from EQT in Munksjö shares for 50% of the difference between the original subscription price of the sold shares and the selling price.

Due to the agreement Ahlstrom has recorded in the 2013 financial accounts an income of EUR 3.8 million and will record a further income of 0.4 million in its Q1/2014 financial accounts. In total, the impact on Ahlstrom's equity will be negative EUR 0.4 million.

"This was the appropriate time to reduce our shareholding in Munksjö given the interest in the market. By this transaction we strengthen our balance sheet, and at the same time Munksjö's shareholder base will be broadened," said Ahlstrom's President & CEO Jan Lång.

A total of 700,000 of the sold shares valued at approximately EUR 3.57 million are sold to Vimpu Intressenter Ab, the largest shareholder of Ahlstrom.

Following the sale of shares, Ahlstrom's shareholding in Munksjö will be 6,767,220 shares, representing 13.25% of total shares. Assuming EQT will compensate Ahlstrom in Munksjö shares, Ahlstrom's shareholding in Munksjö will increase to 7,585,873, or 14.86% of the total shares.

About Ahlstrom

Ahlstrom is a high performance fiber-based materials company, partnering with leading businesses around the world to help them stay ahead. Our products are used in a large variety of everyday applications, such as filters, medical gowns and drapes, diagnostics, wallcoverings, flooring and food packaging. We have a leading market position in the businesses in which we operate.

Ahlstrom

Must ReadView All

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Jabong launches Aeropostale on its platform

Jabong has added leading American high-street fashionwear brand,...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search